At the end of the weekend session on May 24, the price of gold bars at SJC closed at 119-121 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to the previous day.

The price of 1-5 chi SJC gold rings and 9999 gold rings at Doji are both listed at 113.5-116 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and 500,000 VND/tael for selling compared to the previous session.

Gold prices on the Kitco floor closed the trading week at $3,356/ounce. Gold futures for June 2025 delivery on the Comex New York floor are currently at $3,357/ounce.

The global gold market ended the week with solid gains as investors sought alternative safe-haven assets amid growing concerns about the reliability of the US dollar and US Treasury bonds.

PNJ gold (42).jpg
Gold prices ended the week with an increase. Photo: Chi Hieu

The real turmoil began late Friday after Moody's downgraded U.S. debt. Demand for haven gold surged midweek after the U.S. Treasury's disappointing 20-year bond auction, which sent the domino effect of the long-term yield curve steepening as the 30-year yield crossed 5%.

The lack of confidence in the US was evident in the greenback, which ended the week at its lowest level in three weeks. The US Dollar Index (DXY), which measures the greenback against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 99.1 points.

Amid growing global market concerns over budget deficits, rising borrowing costs, surging US Treasury bond issuance and inflationary pressures, factors such as term premiums and an upward sloping yield curve are seen as unfavorable for the US dollar and US equities.

Chris Weston, head of research at brokerage Pepperstone, said the above factors make gold and Bitcoin more attractive, and also explain the increasingly close short-term relationship between US 10- and 30-year bond yields, the US dollar and gold prices.

Mr. Weston commented that the US Treasury yield curve will continue to be the focus of the market next week, with demand reflected in the scheduled auctions of 2-, 5- and 7-year bonds.

In addition, gold prices are also benefiting from the development of bond yields in Japan. According to analysts, rising bond yields in Japan threaten to reverse yen-denominated lending transactions, which could cause liquidity problems globally. Gold continues to assert its role as a global safe haven currency asset.

Gold Price Forecast

David Morrison, senior market analyst at Trade Nation, said the weak US dollar will continue to support gold prices. However, he advised investors to be cautious as the current momentum of gold is neutral and prices can move in both directions.

“The US dollar remains under pressure and investors are gradually moving away from the US government debt market due to concerns about the size of the debt. The case for holding gold as a safe asset remains compelling,” he said.

“However, as we have seen time and again, a compelling story is no guarantee. A deeper correction in gold cannot be ruled out.”

Han Tan, chief market analyst at FXTM, said the gold rally could lose steam if US Treasury yields fail to surge further, especially if the 30-year yield remains confined around the 5% mark.

In the coming week, in addition to trade and geopolitical developments, investors will closely monitor the FOMC meeting minutes, statements from Federal Reserve (Fed) officials and PCE inflation data to adjust expectations about the possibility of a Fed rate cut - a factor that can strongly affect the movement of spot gold prices.

“If the Fed sends a clearer signal about resuming the rate-cutting cycle, gold prices could break out of the $3,000-$3,500/ounce range,” he said.

It was an interesting week for gold, as the precious metal ended up nearly 5% higher as investors questioned the stability of global bond markets amid growing concerns about unsustainable sovereign debt.

Gold’s position is being consolidated. However, a recent research report by the European Central Bank (ECB) has raised concerns, warning that the resurgence of investment demand for gold could destabilize the market.

“In the event of extreme events, the gold market could have a negative impact on financial stability. This would be possible even though the overall exposure of the euro area to gold remains limited compared to other asset classes, given the inherent vulnerabilities of commodity markets. These vulnerabilities arise because commodity markets are often concentrated in the hands of a few large companies, are often heavily leveraged, and have low transparency due to the use of over-the-counter (OTC) derivatives,” the ECB wrote in the report.

The statement has attracted attention, but many experts say it does not reflect reality. Despite the increased volatility, they argue that the gold market remains more liquid and stable than many other assets.

In comments to Kitco News, the World Gold Council said it does not see the risks as warned by the ECB.

“When we analyze the performance of gold, we see that it has retained its value, maintained liquidity and acted as an effective hedge,” said Joseph Cavatoni, senior market strategist at the WGC. “We have not seen any significant disruptions, even during the tariff-related concerns over the past six months. These characteristics further reinforce the strategic role of gold in times of volatility.”

Mr. Trump criticized the EU, issued an 'ultimatum' to Apple: Gold prices skyrocketed Gold prices skyrocketed by more than 50 USD/ounce, reaching 3,350 USD/ounce, while the USD plunged 0.6% at the beginning of the trading session on May 23 in New York.

Source: https://vietnamnet.vn/gia-vang-hom-nay-25-5-2025-vang-cung-co-vi-the-tai-san-tru-an-2404469.html